Arizona To Make Bitcoin Legal Tender Within The State.
Senator Wendy Rogers proposed legislation to make bitcoin legal tender in the U.S. state of Arizona.
Senator Wendy Rogers of Arizona has proposed legislation to make bitcoin legal tender in the state.
The bill proposes to add bitcoin to the list of items deemed legal tender in Arizona, making the peer-to-peer digital currency a legal means of exchange in the state, allowing residents to pay bills, public charges, taxes, and dues in BTC.
If the bill is passed, all financial transactions presently conducted in US dollars would most likely be conducted in bitcoin in the state, including payments and payouts. Citizens may choose to get their pay in bitcoin, and businesses would have total control over how and when they used bitcoin.
The bill expressly mentions “Bitcoin” rather than cryptocurrency in general, and makes no reference of any other digital currency other than Bitcoin
If the law is passed, Arizona will be the first state in the United States to acknowledge bitcoin as legal tender.
El Salvador became the first country in the world to legalize bitcoin in September, when President Nayib Bukele introduced legislation that would match BTC to US dollars, the other currency with legal tender status in the Central American country.
Allowing the grand canyon state and its residents the opportunity to deal with and keep wealth in an immaculate form of currency that is also more stable than the dollar is a net advantage for the state and its citizens.
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